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Recently, Best Buy stock was up 4.96% to $27.11. J.C. Penney was up 24.6% to $7.42. Is this kind of bounce deserved or not?

Cramer assessed J.C. Penney as a "mediocre retailer," but one that isn't anywhere near going out of business. He guessed the stock could trade to $9 or $10 "without a problem."

Best Buy still shows some upward momentum, Cramer said. He wouldn't be surprised to see a 10% move. Management is working to fix the company, and consumers are spending a little more freely. That could benefit the company.

"Both stocks could trade higher," Cramer said -- but they aren't his favorites. That distinction goes to Macy's(M) and TJX(TJX), both of which are in the Action Alerts PLUS charitable trust portfolio, of which Cramer is co-manager. Macy's and TJX are a better value for investors in retail stocks, Cramer judged.